DA Davidson positive on long-term Confluent prospects based on customer feedback

DA Davidson analyst Rudy Kessinger keeps a buy rating and $30 price target on Confluent after attending the annual Kafka user conference. Discusions with the company’s many customers and conversations with its management keeps the firm bullish on the long term prospects for Confluent, even though some customers noted they are still facing cost cutting pressures that could lead to further cost optimization near-term, the analyst tells investors in a research note.